CLS Group Reports MoM Uptick in FX Trading Volumes in March

CLS Group​, a leading provider of foreign exchange settlement solutions, has published the average daily traded volume in the FX market submitted to the company in March 2021, showing an MoM uptick across all products including Forward, Swap and Spot.

The average daily traded volume submitted to CLS during the month of March was $1.977 trillion, up 1.8% compared to the previous month. This was reflected across all instruments.

Taking a look at the average traded volume submitted to CLS for FX Forward, March's volume was $0.117 trillion. Against the previous month's $0.114 trillion, the figure is higher by 3%.

The average daily volume​ recorded for FX Swap in March was $1.377 trillion. Again, this is slightly higher on a monthly basis, increasing by 2%. The same pattern has occurred for FX Spot trading volume, coming in at $0.483 trillion for the period. This is higher than February's volume of $0.475 trillion by 2%.

According to Keith Tippell, Global Head of Product at CLS, the company saw significant increases for USD/JPY and USD/HKD of 15% and 38%, respectively in March, compared to February 2021.   

Generally, FX trading volumes submitted to CLS maintained an upward route in the first quarter of 2021. The company saw increased activity across all instruments with average daily traded volumes of $1.92 trillion in the first month of 2021​. The figure continued to increase by 0.9% to $1.94 trillion in February​.